New York State Teachers' Retirement System, Albany, approved a private equity commitment of up to $300 million to Hellman & Friedman Capital Partners IX, which focuses on large buyouts among multiple industries primarily in North America and Europe, confirmed John Cardillo, a spokesman for the $119.3 billion pension system.
The commitment was approved Wednesday at the board's quarterly meeting. The pension fund previously made several other commitments to Hellman & Friedman funds totaling $900 million, Mr. Cardillo wrote in an email.
The board also voted to allocate $200 million to Raith Capital Partners to "act as a debt separate account adviser for the acquisition, management and disposition of public and private opportunistic commercial real estate investments," according to a notice posted Thursday on the pension fund's website.
This is a new relationship, Mr. Cardillo said. "Raith will source and manage the investments, but NYSTRS will have sole discretion over which investments to make," he added.
The board also renewed contracts with six investment managers, each for one year and each to take effect at the expiration of the respective current contracts. The renewals are:
- Progress Investment Management, which manages $817 million as a manager of managers for a domestic equity all-cap strategy, effective Nov. 15.
- Baillie Gifford Overseas, which manages $777 million as an active international equity manager, effective Sept. 15.
- T. Rowe Price, which manages $753 million as a domestic equity enhanced index manager, effective Oct. 30.
- William Blair & Co., which manages $742 million as an active international equity manager, effective Sept. 22;
- Prima Capital Advisors, which manages $553 million within a separate account structure consisting commercial mortgage-backed securities, investment-grade REIT bonds and other products, effective Nov. 1.
- Leading Edge Investment Advisors, which manages $407 million as a manager of managers for a domestic equity all-cap strategy, effective Nov. 22.